Several months ago the Royal Bank of Canada (RBC) launched a Virtual Visa Debit. This product was designed to allow consumers pay for products online, over the phone or mail order purchases directly from their bank account.

To me, this is an ideal product for someone who does not have a credit card. It is also a pretty great way to shop online without relying on a credit card – some people may agree with me that a credit card can lead you down a path of debt you just don’t want to be on.

That said, RBC has launched a brand new contest where you can shop online for a chance to win $1000 in cash, and a grand prize of $10,000!

How do I enter this contest?

It doesn’t get any simpler than this; all you need to do is use your RBC Virtual Visa Debit!

Every time you pay with your RBC Virtual Visa Debit between now and October 31st, 2012, your name will be entered in a draw to win the cash prize.

There will be five $1,000 prizes awarded every month through October, which means September and October provides you with ample opportunity to win some money!

All of your entries will also be included in the Grand prize draw of $10,000!

Not bad for spending money on items you were likely to buy anyways, right?

What makes a RBC Virtual Visa Debit worth using?

Outside of the fact that you are entered into this great contest, you also need to keep in mind that you are given the perk of shopping online, without an annual fee attached to it, or the build up of debt.

Realistically, if you are responsible to carry credit, then it is a good idea to do so. You earn rewards, and you build your credit score up.

However, this is a great alternative in my opinion.

Start spending soon, because before you know it the contest will be over!

About the Author

My favorite weapon of choice is the samurai sword. I use it to cut my chicken during dinner, cut my hair and periodically carve my name into stone when I am bored. I love meditating on top of a 15ft high pole and eating those sushi’s with smoked salmon on top. I love everything there is about Canada and everything financially related to Canadians. I write deily posts from Canadian Banks to Credit Card information.